Electronic Warfare Market to Cross USD 26.65 Billion by 2030 Owing to Increasing Defense Budgets and Evolving Threat Landscapes | Research by SNS Insider

Based on SNS Insider’s research, the electronic warfare market is currently experiencing remarkable growth, primarily driven by technological advancements, increasing defense budgets, evolving threat landscapes, and the growing demand for spectrum dominance.

Pune, Nov. 07, 2023 (GLOBE NEWSWIRE) — “The SNS Insider report indicates that in 2022, the Electronic Warfare Market had a valuation of USD 19.02 billion, with a projected growth to USD 26.65 billion by 2030, at a compound annual growth rate (CAGR) of 4.31% during the forecast period from 2023 to 2030.”

Market Overview

Electronic warfare (EW) is a multifaceted domain of military operations that encompasses a wide range of activities, tactics, and technologies designed to control the electromagnetic spectrum and exploit it for strategic and tactical advantages. This domain focuses on the use of electromagnetic energy to disrupt, degrade, or damage an adversary’s electronic systems, such as radar and communication equipment. Electronic support measures contribute to intelligence gathering, allowing military commanders to make informed decisions.

Market Analysis

Rapid advancements in electronic warfare technologies have revolutionized the field. New and innovative solutions, such as cognitive EW and artificial intelligence, are enhancing the effectiveness of electronic warfare systems. These advancements are compelling defense forces worldwide to invest in modernizing their EW capabilities. Governments across the globe are allocating substantial portions of their budgets to enhance national security. This increased funding for defense initiatives directly fuels the growth of the electronic warfare market, enabling the development and acquisition of state-of-the-art EW systems. With the proliferation of electronic systems and network-centric warfare, the threat landscape has become more complex. Adversaries are constantly adapting, necessitating the development of advanced electronic warfare technologies to counter emerging threats effectively. All these factors to contribute to the substantial growth of the market.

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Key Company Profiles Listed in this Report are:

The Major Players are BAE Systems, Raytheon Technologies Corporation, Thales Group, Northrop Grumman Corporation, HENSOLDT, Boeing, General Dynamics Corporation, Lockheed Martin Corporation, Leonardo SpA, Saab AB, and Other Players Included in Final Report.

Electronic Warfare Market Report Scope:

Report Attributes Details
Market Size in 2022  US$ 19.02 Billion
Market Size by 2030  US$ 26.65 Billion
CAGR  CAGR of 4.31% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2019-2021
Key Regional Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Key Takeaway from Electronic Warfare Market Study

  • The electronic attack segment is poised to play a pivotal role in dominating the market in the coming years. This segment encompasses a range of advanced technologies and techniques designed to disrupt, degrade, or neutralize adversary electronic systems. Electronic Attack involves electronic jamming, electronic deception, and the use of directed energy to target and disable enemy communication and sensor systems.
  • The rise of jammers as a dominant segment in the electronic warfare market can be attributed to their crucial role in disrupting and neutralizing enemy electronic systems, the increasing reliance on electronics in modern military operations, and continuous advancements in jamming technology.

Recent Developments

  • Northrop Grumman and LIG Nex1 have announced a collaborative effort aimed at bolstering South Korea’s defense capabilities. Electronic warfare systems are crucial components of modern defense strategies, focusing on disrupting or incapacitating enemy electronic equipment and communication systems.
  • Rohde & Schwarz (R&S) and SRC, two established players in the field of electronic warfare, have joined forces to pioneer new advancements in electronic warfare products. This partnership brings together the expertise and innovative capabilities of both companies, with the shared objective of developing cutting-edge electronic warfare solutions.

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Market Dynamics Analysis

The electronic warfare market is characterized by a complex interplay of drivers, restraints, challenges, and threats that shape its dynamics. Several key drivers propel the market’s growth, including advancements in technology, the escalating demand for electronic warfare systems in modern military operations, and the increasing focus on electromagnetic spectrum dominance. As nations strive to bolster their defense capabilities, the need for more sophisticated electronic warfare solutions has surged, fostering market expansion. Moreover, the growing adoption of unmanned aerial vehicles (UAVs) and the proliferation of electronic warfare systems in the commercial sector have also boosted market prospects. Nevertheless, this upward trajectory is met with substantial restraints and challenges. The market is highly capital-intensive, demanding substantial investments in research and development to stay ahead in this rapidly evolving field. Additionally, stringent regulations and export restrictions imposed on electronic warfare technology can hinder market growth. In terms of threats, the market faces several risks, primarily from adversaries who aim to disrupt communication systems and gain an advantage in the electromagnetic spectrum.

Electronic Warfare Market Key Segmentation:

By Capability

  • Support
  • Attack
  • Protection

By Product

  • Jammers
  • Countermeasure System
  • Decoy
  • Directed Energy Weapon
  • Antennas
  • Direction Finders
  • Laser Warning Systems
  • Radar Warning Receivers
  • Counter UAV Systems
  • Electromagnetic Pulse (EMP) Weapons
  • Others

By Platform

  • Land
  • Naval
  • Airborne
  • Space

Key Regional Developments

North America has long been a key player in the electronic warfare market, with the United States leading the way in both investment and technological innovation. The U.S. Department of Defense has consistently allocated a significant portion of its budget to EW programs, resulting in the development of cutting-edge electronic warfare technologies and capabilities. Europe is another significant contributor to the global market. Various European countries, including the United Kingdom, France, and Germany, have well-established defense industries that focus on developing EW capabilities. The Asia-Pacific region is witnessing substantial growth in the market, primarily driven by the emergence of China as a formidable player in the field.

Impact of Recession on Electronic Warfare Market Growth

Recessions and economic downturns can influence the electronic warfare market in several ways. First, budget constraints may lead to reduced defense spending, impacting the procurement of EW systems. However, economic uncertainties can also drive the need for enhanced security, potentially leading to increased investments in electronic warfare to address emerging threats. The market’s response to economic recessions is a complex interplay of fiscal policies, national security concerns, and evolving geopolitical situations.

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Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Electronic Warfare Market Segmentation, By Capability

9. Electronic Warfare Market Segmentation, By Product

10. Electronic Warfare Market Segmentation, By Platform

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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